Park Slope Will Get 2 New Apartment High Rises, Developer Says

PARK SLOPE, NY — Park Slope is set to be the home of a new affordable housing development after the New York City Council recently approved a rezoning application, according to a developer.

Stellar Management plans to build two apartment buildings at 341 10th Street, between Fourth and Fifth avenues. The 245,000 square foot development will have 305 new apartments — with 154 preserved as long-term affordable apartments.

The project will “rehabilitate an almost 100-year void in the urban fabric between 4th Avenue and 5th Avenue, on both 9th and 10th Streets,” according to Stellar Management.

The existing building, at 341 10th Street, will also undergo substantial rehabilitations and renovations of the lobby, community room, enhanced security features throughout the property, elevators, plumbing and electrical system upgrades, and renovations of individual units.

“We applaud Council Members Alexa Avilés and Shahana Hanif, the Prospect Towers Tenant Association, the Fifth Avenue Committee, and the Department of City Planning for their leadership in helping address our housing crisis by advancing this important multigenerational community,” said Benjamin Rubenstein of Stellar Management.

In addition, the project will feature a publicly accessible 15,000 square-foot green space with shaded play areas and community gardening features.

All new amenities developed on-site will be accessible to current residents. The Prospect Towers Tenant Association and Stellar Management are collaborating to develop features for all green spaces, officials said.

287 apartments will be available to individuals earning $76,000 on average ($98,000 annually for a family of three) – including firefighters, union building trades workers, sanitation workers, cooks, taxi drivers, and nurses – with 196 units allocated for families of three earning less than $70,000 each year.